Hello Everyone,
Quick Notes: During the regular session all the major indices closed higher with the SPX making new highs again today (could simply be a larger B wave). However, after the close AMZN missed revenues and got hit hard taking the futures lower. The NYAD cumulative continues to diverge against the SPX and same with the NAAD vs Nasdaq. In addition, we are now entering weaker seasonal period with the monthly charts extended. Some caution here bigger picture.
Tonight, I will review some recent trade ideas and LATER post some new setups (longs and shorts on the trading community) since I'm running late and have a meeting soon.
Please take a moment to look at the trade ideas.
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7/23: SPX daily DVT = 4260, SPX 2 day DVT = 4232, Weekly DVT = 4057
QQQ daily DVT = 352, 2 Day QQQ DVT = 348, Weekly QQQ DVT = 325.2
